Marvel Studios has hired Shane Black to direct Iron Man 3. The superhero sequel has already been set with a release date of May 3, 2013.
Jon Favreau, who directed Iron Man and Iron Man 2, will be tied up with Magic Kingdom for Disney.
Shane Black is primarily known as a screenwriter, although it isn't known if he will pen the script for Iron Man 3. However, Shane Black did direct star Robert Downey Jr. in the 2005 movie Kiss Kiss, Bang Bang.
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No production schedule was given for Iron Man 3 yet.